Lumentum Holdings Inc. $LITE Shares Sold by Leeward Investments LLC MA

Key Points

• Leeward Investments LLC MA cut its Lumentum stake by 69.5% in the first quarter, selling 79,390 shares and leaving it with 34,888 shares valued at about $24.5 million.
• Lumentum reported strong quarterly results, posting $2.37 EPS versus the $2.27 consensus and 90.1% year-over-year revenue growth to $808.4 million.
• Analysts remain constructive on the stock despite mixed ratings, with several raising price targets; the current average target is $1,021.95 and the consensus rating is Moderate Buy.

Leeward Investments LLC MA lessened its position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 69.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,888 shares of the technology company's stock after selling 79,390 shares during the period. Lumentum makes up 1.2% of Leeward Investments LLC MA's holdings, making the stock its 14th largest position. Leeward Investments LLC MA's holdings in Lumentum were worth $24,518,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. boosted its stake in Lumentum by 36.8% during the first quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company's stock valued at $59,000 after buying an additional 254 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Lumentum by 109.9% during the 1st quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company's stock valued at $747,000 after purchasing an additional 6,275 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Lumentum by 9.1% during the 1st quarter. Empowered Funds LLC now owns 8,139 shares of the technology company's stock valued at $507,000 after purchasing an additional 680 shares in the last quarter. Hsbc Holdings PLC acquired a new position in shares of Lumentum in the 2nd quarter worth approximately $298,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Lumentum in the 2nd quarter worth approximately $1,712,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Lumentum Stock Down 7.4%

LITE stock opened at $827.92 on Wednesday. Lumentum Holdings Inc. has a 52-week low of $88.37 and a 52-week high of $1,085.68. The company's 50 day simple moving average is $901.56 and its 200-day simple moving average is $659.98. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97. The firm has a market capitalization of $64.41 billion, a P/E ratio of 153.32 and a beta of 1.47.

Lumentum (NASDAQ:LITE - Get Free Report) last announced its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.10. The company had revenue of $808.40 million for the quarter, compared to the consensus estimate of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The company's revenue was up 90.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, equities research analysts anticipate that Lumentum Holdings Inc. will post 6.4 EPS for the current year.

Insider Transactions at Lumentum

In other Lumentum news, insider Vincent Retort sold 3,183 shares of the company's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $3,036,422.85. Following the transaction, the insider owned 89,563 shares in the company, valued at approximately $85,438,623.85. This represents a 3.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Wajid Ali sold 2,487 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $2,372,473.65. Following the completion of the sale, the chief financial officer owned 60,951 shares of the company's stock, valued at approximately $58,144,206.45. The trade was a 3.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 41,260 shares of company stock worth $38,859,220. 0.43% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Morgan Stanley increased their target price on shares of Lumentum from $710.00 to $900.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 6th. Barclays upped their price target on Lumentum from $750.00 to $1,000.00 and gave the company an "equal weight" rating in a report on Wednesday, May 6th. Citigroup increased their price objective on Lumentum from $800.00 to $1,100.00 and gave the company a "buy" rating in a research report on Tuesday, April 21st. Weiss Ratings reissued a "hold (c)" rating on shares of Lumentum in a research note on Tuesday, April 21st. Finally, Craig Hallum boosted their target price on Lumentum from $900.00 to $1,150.00 in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Lumentum currently has an average rating of "Moderate Buy" and an average target price of $1,021.95.

Lumentum Profile

Lumentum Holdings Inc, headquartered in San Jose, California, is a leading provider of photonic technologies that enable high-speed optical communication networks and advanced industrial applications. The company designs and manufactures a broad range of lasers, optical modules and subsystems tailored to the evolving requirements of telecommunications carriers, cloud data centers and enterprise networking.

Its core product portfolio includes tunable and fixed-wavelength laser transmitters, coherent optical engines, transceivers for long-haul, metro and data center interconnects, as well as test and measurement instruments.

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